Lithium Americas (Argentina) (NYSE:LAR) Issues Quarterly Earnings Results

Lithium Americas (Argentina) (NYSE:LAR) issued its quarterly earnings data on Tuesday. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03, Zacks reports.

Lithium Americas (Argentina) Stock Down 4.8%

Shares of Lithium Americas (Argentina) stock traded down $0.21 during trading hours on Tuesday, hitting $4.22. 972,253 shares of the company’s stock traded hands, compared to its average volume of 2,526,848. The stock has a 50 day simple moving average of $5.30 and a 200-day simple moving average of $7.19. The company has a market cap of $693.66 million and a PE ratio of -12.40. Lithium Americas has a twelve month low of $3.92 and a twelve month high of $12.05.

Wall Street Analysts Forecast Growth

LAR has been the topic of several analyst reports. Zacks Research downgraded Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 27th. Stifel Nicolaus boosted their price target on Lithium Americas (Argentina) from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Wall Street Zen cut Lithium Americas (Argentina) from a “hold” rating to a “sell” rating in a report on Sunday, October 25th. National Bank Financial lowered their price objective on shares of Lithium Americas (Argentina) from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Finally, Scotiabank lowered their price objective on shares of Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating for the company in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.07.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) Corp., formerly known as Lithium Americas (Argentina) Corp. and associated with the NYSE symbol LAR, is a lithium development and production company focused on projects in Argentina. Its principal asset is the Cauchari-Olaroz lithium brine project in Jujuy Province, a region recognized for its significant lithium resources. Cauchari-Olaroz produces lithium carbonate, a key raw material used in rechargeable batteries for electric vehicles, energy-storage systems, consumer electronics and other applications.